Key Developments: Cemex SAB de CV (CX)

CX on New York Consolidated

10.15USD
27 Feb 2015
Change (% chg)

$-0.12 (-1.17%)
Prev Close
$10.27
Open
$10.29
Day's High
$10.31
Day's Low
$10.06
Volume
12,611,586
Avg. Vol
15,559,088
52-wk High
$13.81
52-wk Low
$8.72

Search Stocks

Latest Key Developments (Source: Significant Developments)

CEMEX SAB de CV announces pricing of 550 million euros and $750 million in senior secured notes
Friday, 27 Feb 2015 12:01am EST 

CEMEX SAB de CV:Announced the pricing of 550 million euro of its 4.375 pct. Senior Secured Notes due 2023 denominated in Euros and $750 million of its 6.125 pct. Senior Secured Notes due 2025 denominated in U.S. Dollars.The Euro Notes will bear interest at an annual rate of 4.375 pct. and mature on March 5, 2023.The Euro Notes will be issued at par and will be callable commencing on March 5, 2019.The U.S. Dollar Notes will bear interest at an annual rate of 6.125 pct. and mature on May 5, 2025.The U.S. Dollar Notes will be issued at a price of 99.980 pct. of face value and will be callable commencing on May 5, 2020.The closing of the offerings is expected to occur on March 5, 2015.CEMEX intends to use the net proceeds from the offerings of the Euro Notes and the U.S. Dollar Notes to fund the redemption and/or repurchase of the Floating Rate Senior Secured Notes due 2015 issued by CEMEX.The 9.000 pct. Senior Secured Notes due 2018, issued by CEMEX, and/or the 9.250 pct. Senior Secured Notes due 2020, issued by CEMEX EspaƱa, S.A., acting through its Luxembourg Branch, and the remainder, if any, for general corporate purposes.  Full Article

Pattern Energy Group LP signs joint venture with CEMEX SAB de CV's CEMEX Energia
Thursday, 19 Feb 2015 08:30am EST 

Pattern Energy Group LP:Signed a joint venture (JV) agreement with CEMEX Energia, a subsidiary of CEMEX, S.A.B. de C.V.Says the CEMEX Energia/Pattern Development JV envisions advancing development opportunities and acquiring projects from third parties in the early to mid-stages of their development process.Joint Venture expects to build a portfolio of at least 1,000 MW of renewable energy projects over the next five years.  Full Article

S&P changes outlook of CEMEX to positive from stable; affirms credit ratings
Friday, 16 Jan 2015 06:22pm EST 

CEMEX SAB de CV:Standard & Poor's Ratings Services has changed company's outlook to positive from stable.S&P has affirmed its B+ long-term credit rating on global scale and mxBBB long-term and mxA-2 short-term credit ratings on national scale.  Full Article

CEMEX increases new bank loan to $1.87 bln and concludes amendment to facilities agreement
Monday, 3 Nov 2014 04:26pm EST 

CEMEX SAB de CV:Says it has received $515 million of commitments from banks that have agreed to join the credit agreement entered into on Sep. 30.Says banks that provided new commitments will accede credit agreement as additional lenders, increasing total amount of credit agreement from $1.35 billion to $1.87 billion.Says incremental amount raised will be applied to partially prepay facilities agreement dated Sep. 17, 2012 and to pay other debt.Says after prepayment of facilities agreement, the remaining outstanding amount under this facility will be reduced to about $2.05 billion, scheduled to mature in 2017.Says it has obtained required consents to amend facilities agreement so covenants and undertakings under this facility are conformed to those of credit agreement.  Full Article

CEMEX SAB de CV and Holcim agree on series of transactions in Europe
Thursday, 30 Oct 2014 02:00am EDT 

CEMEX SAB de CV:Announces that it has signed binding agreements with Holcim regarding the series of transactions originally announced on Aug. 28.Says CEMEX will acquire all of Holcim's assets in the Czech Republic and will divest its assets in the western part of Germany to Holcim.Says in Spain, CEMEX will acquire Holcim's Gador cement plant and its Yeles cement grinding station.Says Holcim will keep all its other operations in Spain.Says as part of these transactions, CEMEX will pay EUR45 million in cash to Holcim.Says these transactions are expected to close during the first quarter of 2015.  Full Article

CEMEX SAB de CV obtains new bank loan under improved conditions
Tuesday, 30 Sep 2014 09:00am EDT 

CEMEX SAB de CV:Enters into new credit agreement for $1.35 bln, with nine of the main lending banks from its facilities agreement dated Sept. 17, 2012.The main terms of new credit agreement, which represent an improvement over main terms of existing facilities agreement, are as follows.Says an average 4-year term with equal semi-annual payments of principal of 20 pct each, beginning on third anniversary of Credit Agreement and with last payment on Sept. 2019.Says spread over LIBOR of between 250 and 375 basis points, depending on the level of leverage of CEMEX.Says revolving credit tranche of 40 pct of total principal amount with same maturity.Improvements in certain covenants and undertakings that will provide more flexibility to CEMEX.Proceeds from credit agreement will initially be used to refinance $1.35 billion of indebtedness under facilities agreement.Credit agreement includes same guarantors as facilities agreement and shares in same collateral pledged in favor of lenders under facilities agreement and other secured obligations of CEMEX.Credit agreement contains similar collateral release provisions as facilities agreement.  Full Article

CEMEX SAB de CV announces pricing of $200 mln in contingent convertible units
Friday, 26 Sep 2014 05:00pm EDT 

CEMEX SAB de CV:Says pricing of its private offering of 200,000 contingent convertible units, each with a stated amount of $1,000.The contingent convertible units are intended to finance payment of the principal amount of $200 mln of CEMEX's 4.875 pct convertible subordinated notes due 2015 that mature without conversion.There is currently about $204 mln aggregate principal amount of 2015 existing convertible notes outstanding.This transaction completes CEMEX's objective of addressing contingent maturity of its 2015 existing convertible notes.Each contingent convertible unit will consist of note purchase contract, under which holder will agree to purchase from CEMEX, and CEMEX will agree to sell to holder, on March 13, 2015. for $1,000 in cash, $1,000 in principal amount of CEMEX's to be issued convertible subordinated notes due 2020.CEMEX will only receive proceeds from offering of contingent convertible units to extent that note purchase contracts are exercised on note purchase date.CEMEX intends to use net proceeds from offering of contingent convertible units, together with available cash, if necessary, to repay in full amount outstanding under 2015 existing convertible notes that matures without conversion.  Full Article

EU Regulators clear CEMEX SAB de CV to buy Holcim's Spanish operations - Reuters
Tuesday, 9 Sep 2014 05:45am EDT 

CEMEX SAB de CV:European Union antitrust regulators approved on Tuesday Cemex's proposed takeover of Swiss rival Holcim's Spanish units, saying the deal would not reduce competition in Spain - Reuters.The European Commission opened an investigation in April, worried the acquisition could curb competition and also facilitate illegal collusion between grey cement producers in Spain.The probe showed that this would not be the case, absolving the companies from requiring to make concessions.  Full Article

CEMEX SAB de CV announces pricing of 400 million euros and $1.1 billion in senior secured notes
Thursday, 4 Sep 2014 09:45pm EDT 

CEMEX SAB de CV:Announces pricing of 400 million euros of its 4.750 pct. Senior Secured Notes due 2022 denominated in Euros and $1.1 billion of its 5.700 pct. Senior Secured Notes due 2025 denominated in U.S. Dollars.Says the Euro Notes will bear interest at an annual rate of 4.750% and mature on Jan. 11, 2022.The Euro Notes will be issued at par and will be callable commencing on Jan. 11, 2018.The U.S. Dollar Notes will bear interest at an annual rate of 5.700 pct. and mature on Jan. 11, 2025.The U.S. Dollar Notes will be issued at par and will be callable commencing on Jan. 11, 2020.Says the closing of the offerings is expected to occur on Sept. 11, 2014.CEMEX intends to use the net proceeds from the offering of the Euro Notes for general corporate purposes, including the repayment of indebtedness under CEMEX's Facilities Agreement, dated as of Sept. 17, 2012.  Full Article

CEMEX SAB de CV announces offering of senior secured notes
Thursday, 4 Sep 2014 05:15am EDT 

CEMEX SAB de CV:Intends to offer senior secured notes in one or more series denominated in Euros.Contemporaneous with the offering of the Euro Notes, the Issuer may also offer senior secured notes in one or more series denominated in U.S. Dollars.CEMEX intends to use the net proceeds from the offering of the Euro Notes for general corporate purposes.  Full Article

LatAm enjoys another solid start as Cemex climbs

NEW YORK, Feb 27 (IFR) - LatAm credit markets enjoyed another strong start on Friday with the exception of the Brazilian sovereign, which continues to lag as investors fret about the fallout from the Petrobras corruption scandal.

Search Stocks